Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Power struggle for the state or deep rift about Turkey?

As an external observer, I see a profound rift having taken place between Erdoğan — more than anybody else in the AKP — and the Hizmet movement; and that has much less to do with the power struggle than a resistance to another massive, individual attempt to accumulate power in one person.What has defined Erdoğan’s way with various social segments since 2011 is to alienate, antagonize, suppress and devour. So was his pattern with the dissident Kurds, Alevis, leftists, liberals and now Hizmet.

Statement on Journalists Arrests

The raids on Turkey’s top selling newspaper Zaman and prominent TV organization STV are profoundly disturbing to all of us who value democracy, tolerance and the role of a free press in safeguarding both. Journalists who report about the suppression of human rights are not enemies of the state; rather they are documenting the actions of those who undermine the safeguards of a democratic Turkey.

Deviation, crisis and opportunities…

The recent crisis going on between the Justice and Development Party (AK Party) government and the Hizmet movement is indeed not just a struggle between the two actors. It means much more than that. This fight represents a struggle between democracy and autocracy, freedom and oppression and a harmonious society and a polarized society.

Report reveals closure of prep schools against Constitution

A recently released report by a think tank based in İstanbul has revealed that the controversial law shutting down Turkey’s private prep schools or “dershanes” includes clauses that violate the Turkish Constitution.

American academic: Hizmet Movement serves for entire humanity

Speaking at a cenference in the southern province of Antalya, Soltes shared his observations about the Hizmet Movement. “I saw this on every people I met: I see that everybody, who is inspired by Gülen’s thoughts, help people with no thought of personal gain,” said Soltes adding that Hizmet Movement serves for entire humanity in the world.

Yeni Asya editor: Erdoğan kept strategy to finish off Gülen movement secret

President Recep Tayyip Erdoğan, who launched an all-out war against the faith-based Gülen movement in late 2013, kept his strategy to eliminate the group a secret until he decided to sever ties with it completely, Yeni Asya daily Editor-in-Chief Kazım Güleçyüz has said, adding the elimination strategy was state-sponsored.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Some states use religion for wars, says Catholic Bishop in İstanbul

Kimse Yok Mu’s Ramadan packages for Filipino families

500 Food Packages to 500 Families

Erdogan’s long arm abroad: no way to get passports, facing deportation to Turkey, no help!

TÜBİTAK changes olympiad scoring system, penalizes private schools

Two days in Kenya with Kimse Yok Mu

Jews, Muslims Bond Over Shared Values

Copyright 2026 Hizmet News